Traub, who also vacated his seat on the SSB board, joined the company in 2014.

In addition to the CEO role, Swift continues as board chair and is executive business partner with SSB’s majority owner, private equity firm Advent International. He has been SSB board chair since 2013 and has more than 30 years of experience leading private equity-owned and public entities.

Swift thanked Traub for his many contributions to the company, adding: “Michael has led the company through a period of unprecedented market disruption and transformation. He has positioned SSB for future growth and value creation through the integration of the Serta and Simmons brands, modernizing our manufacturing network and spearheading our merger with Tuft & Needle. While the board is grateful to Michael … we believe the time is right for this transition. We remain committed to creating new growth opportunities for employees and partners, delivering innovative products and a great sleep experience for our consumers, and creating long-term value for our shareholders.”

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